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Inflation Data Comes in HOT. Is the Rally Dead?

by | Feb 10, 2022

Stock futures fell and the markets opened lower following higher-than-expected Consumer Price Index data — and more in Thursday’s stock market recap.

The Consumer Price Index rose 7.5% year over year versus the 7.3% expected, remaining at a 40-year high. This caused the major indices to give up the ground they gained due to strong earnings.

It also puts more pressure on the Federal Reserve to move forward with their planned interest rate hikes, which are expected to begin in March. 

This certainly isn’t good for the rally we were seeing build in the major indices, but it’s especially bad news for Consumer Discretionary and Technology, as these sectors typically sell off when interest rates rise.

In this morning’s stock market recap video, you’ll learn whether bonds are ready to revert higher… the key levels on today’s major Federal Reserve report… crucial price levels breached to the upside on the Dow… one sector we need to pay close attention to today…. plus top ETF and option complete with price levels and strikes.

Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to! 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,768.06.
  • Futures: 35,393.
  • Change: -248.

S&P 500 (mini)

  • Close: 4,587.18.
  • Futures: 4,518.5.
  • Change: -59.25.

NASDAQ (mini)

  • Close: 15,056.96.
  • Futures: 14,741.75.
  • Change: -294.5.

RUSSELL (mini)

  • Close: 2,083.5.
  • Futures: 2,041.
  • Change: -38.1.

Note: Updated as of 9:22 a.m. EST  

Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to support@marketgeeks.com

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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